A crypto market crash happened in November, with the valuation of all tokens dropping by over 20%. This decline happened after the aftermath of the October 10th liquidation event. Bitcoin price dropped from a high of $126,300 in October to a low of $80,495, while most altcoins had a steeper dive. So, will the market crash or rally in December?

Why the Crypto market crash happened in November

The crypto market crashed in November, even as American stocks soared to a record high. The Nasdaq 100 and S&P 500 indices have jumped by double-digits in the past few months and are now hovering at their all-time high.

Analysts, including popular investors like Tom Lee and Arthur Hayes, believe that the crash happened after the aftermath of the $20 billion liquidations on October 10. 

The liquidation event led to a sharp decline in futures open interest. Data compiled by CoinGlass showed that the open interest dropped by over 4">Copy link